Megaupload's Kim Dotcom teases new music service Megabox

Internet mogul Kim Dotcom uploaded a YouTube video promising a new online music service called Megabox. It will reportedly allow artists to sell their own music and earn 90 percent of the revenue generated through those transactions

In the video posted by the controversial founder of Megaupload, it seems both artists and music fans can create separate profiles. After artists create their profiles, they can share as much of their music as they'd like.

If the video teaser is to be trusted, Dotcom has lined up some impressive musicians to join the service, such as The Black Keys, Will.i.am and Rusko.

While his previous project Megaupload (now shut down) also included videos to watch and share, the YouTube clip doesn't show any videos being uploaded or shared on Megabox.

Dotcom is trying to make a comeback after his previous online giant Megaupload got him in hot water with the FBI and RIAA. He was charged earlier this year with various alleged crimes, including facilitating "massive worldwide online piracy" through his Megaupload cyberlocker. Dotcom has also been accused of racketeering and money laundering amounting to "more than $500 million in damages and over $175 million in profit," according to authorities.

But after a judge ruled the Megaupload founder’s home, known as the Dotcom Mansion, was searched illegally, the case was suspended and now U.S. authorities are working to extradite the German to stand trial for what they have called the biggest case of its kind to date, USA Today writes.

Dotcom has only released scant details about Megabox, but he earlier said "Megabox would feature something called Megakey, a solution allowing artists to earn income even from those users who download music for free. Dotcom hasn’t disclosed any details of the service, but said the Megakey business model was tested with over a million users and it worked," as this media report tells us.

TechCrunch's Matt Burns is excited about Megabox's potential: ...it’s probably a safe bet that Dotcom and the rest of the Megaupload world are prepping Megabox to be the anti-RIAA and as pro-artist/fans as possible. And that’s awesome."